DVSP vs. DVXY

Last updated Aug 4, 2026

DVSP (WEBs SPY Defined Volatility ETF) and DVXY (WEBs Consumer Discretionary XLY Defined Volatility ETF) are both exchange-traded funds - DVSP is a Large Cap Blend Equities fund tracking the Syntax Defined Volatility US Large Cap 500 Index, while DVXY is a Consumer Discretionary Equities fund tracking the Syntax Defined Volatility XLY Index. Both are passively managed. Over the past year, DVSP returned 25.22% vs -1.53% for DVXY. Their 0.74 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.89% expense ratio.

Performance

DVSP vs. DVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs SPY Defined Volatility ETF (DVSP) and WEBs Consumer Discretionary XLY Defined Volatility ETF (DVXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVSP achieves a 8.61% return, which is significantly higher than DVXY's -11.23% return.

DVSP

• 1D: 2.14%
• 1M: 2.21%
• 6M: 5.50%
• YTD: 8.61%
• 1Y: 25.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.97%

DVXY

• 1D: 1.68%
• 1M: -1.45%
• 6M: -13.53%
• YTD: -11.23%
• 1Y: -1.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -9.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVSP WEBs SPY Defined Volatility ETF	$21.68K	$13.82K	$18.99K
DVXY WEBs Consumer Discretionary XLY Defined Volatility ETF	$171.54	$494.96	$890.91

DVSP vs. DVXY - Yearly Performance Comparison

	2026 (YTD)	2025
DVSP WEBs SPY Defined Volatility ETF	8.61%	12.23%
DVXY WEBs Consumer Discretionary XLY Defined Volatility ETF	-11.23%	1.31%

Correlation

The correlation between DVSP and DVXY is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.74

The correlation between DVSP and DVXY has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.

Return for Risk

DVSP vs. DVXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DVSP

DVSP Risk / Return Rank: 43
DVSP Sharpe Ratio Rank: 44
DVSP Sortino Ratio Rank: 41
DVSP Omega Ratio Rank: 41
DVSP Calmar Ratio Rank: 42
DVSP Martin Ratio Rank: 46

DVXY

DVXY Risk / Return Rank: 10
DVXY Sharpe Ratio Rank: 10
DVXY Sortino Ratio Rank: 10
DVXY Omega Ratio Rank: 10
DVXY Calmar Ratio Rank: 10
DVXY Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DVSP vs. DVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs SPY Defined Volatility ETF (DVSP) and WEBs Consumer Discretionary XLY Defined Volatility ETF (DVXY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DVSP	DVXY	Difference
Sharpe ratio: Return per unit of total volatility	1.20	-0.06	+1.26
Sortino ratio: Return per unit of downside risk	1.67	0.11	+1.56
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.20
Calmar ratio: Return relative to maximum drawdown	1.63	-0.06	+1.69
Martin ratio: Return relative to average drawdown	5.69	-0.13	+5.82

DVSP vs. DVXY - Sharpe Ratio Comparison

The current DVSP Sharpe Ratio is 1.20, which is higher than the DVXY Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of DVSP and DVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DVSP vs. DVXY - Drawdown Comparison

The maximum DVSP drawdown since its inception was -22.71%, smaller than the maximum DVXY drawdown of -24.30%. Use the drawdown chart below to compare losses from any high point for DVSP and DVXY.

Drawdown Indicators

	DVSP	DVXY	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-24.30%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-24.30%	+8.74%
Current Drawdown Current decline from peak	-2.48%	-17.42%	+14.94%
Average Drawdown Average peak-to-trough decline	-5.49%	-9.39%	+3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	11.72%	-7.27%

Volatility

DVSP vs. DVXY - Volatility Comparison

The current volatility for WEBs SPY Defined Volatility ETF (DVSP) is 6.29%, while WEBs Consumer Discretionary XLY Defined Volatility ETF (DVXY) has a volatility of 9.36%. This indicates that DVSP experiences smaller price fluctuations and is considered to be less risky than DVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVSP	DVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	9.36%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	20.12%	-4.26%
Volatility (1Y) Calculated over the trailing 1-year period	21.14%	27.07%	-5.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.04%	27.32%	-5.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.04%	27.32%	-5.28%

DVSP vs. DVXY - Expense Ratio Comparison

Both DVSP and DVXY have an expense ratio of 0.89%.

Dividends

DVSP vs. DVXY - Dividend Comparison

DVSP's dividend yield for the trailing twelve months is around 0.26%, while DVXY has not paid dividends to shareholders.

Position	TTM	2025
DVSP WEBs SPY Defined Volatility ETF	0.26%	0.28%
DVXY WEBs Consumer Discretionary XLY Defined Volatility ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVSP and DVXY in my portfolio?

DVSP and DVXY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVSP or DVXY?

DVXY has higher volatility (9.36%) compared to DVSP (6.29%). In terms of maximum drawdown, DVSP dropped -22.71% vs DVXY's -24.30%.

Which ETF is better, DVSP or DVXY?

On 1-year performance, DVSP leads with 25.22% vs -1.53% for DVXY. Both ETFs have the same 0.89% expense ratio. On volatility, DVSP has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVSP or DVXY?

Over the 1-year period, DVSP has performed better with a 25.22% return vs -1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVSP or DVXY?

DVSP and DVXY have the same expense ratio: 0.89% per year.

Which ETF pays a higher dividend yield, DVSP or DVXY?

DVSP has the higher dividend yield at 0.26%, compared with 0.00% for DVXY.

What is the main difference between DVSP and DVXY?

DVSP is categorized as Large Cap Blend Equities, while DVXY is Consumer Discretionary Equities. DVSP tracks Syntax Defined Volatility US Large Cap 500 Index, while DVXY tracks Syntax Defined Volatility XLY Index.

Which has better risk-adjusted returns?

DVSP currently has the higher Sharpe Ratio (1.20 vs -0.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.